NTUC Income picks next CEO

NTUC Income’s board of directors has appointed Andrew Yeo as the company’s next chief executive, effective from June 1. Yeo will take over from Ken Ng, who will then take a new role within NTUC to support the executive director.

Yeo (pictured) is the Singapore composite’s executive vice-president and general manager of life and health business, a position he has held since he joined Income in 2015.

Prior to joining NTUC Income, Yeo held leadership positions at AIA, Great Eastern and Prudential. In addition to Singapore, he has been based in Hong Kong, Indonesia and Vietnam.

Ronald Ong, NTUC Income’s chairman, said: “I would like to thank [Ng] for his contributions over the last five years, particularly in areas of digital transformation and innovation. The appointment of [Yeo] as the internal successor demonstrates the robust efforts that [NTUC] Income has been putting into building internal bench strength and talent.”

Yeo commented: “It is a great privilege to be given this appointment to lead [NTUC] Income. As a market leader in key segments, we want to continue to expand our services to meet customers’ needs, both in terms of choice and reach.

“While the operating environment will always have its challenges, we will continue to leverage new ways of working and technology to be a more efficient business, creating new growth opportunities and choices for the benefits of our customers, business partners, employees and stakeholders.”